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Ryanair reports Q3 profit up 21% to €18 million ©

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Ryanair announced Q3 profits of €18 million up 21% on revenues of €969 million up 15%, despite an 24% increase in fuel costs to €81 million increase, carrying 17.3 million passengers up 3% it's average fares improved by 8% and ancillary revenue grew by 21% to €220.1 million far exceeding passenger growth.

Ryanair’s CEO Michael O’Leary said "Our Q3 profit of €18m was ahead of expectations due to strong pre-Christmas bookings at higher yields.  The 8% rise in avg. fares reflects our improved customer service, record punctuality and the successful roll out of our reserved seating service.  Our fuel costs rose €81m, (+24%), slightly less than expected as oil prices increased 22% (from $84pbl) to $102pbl.

Excluding fuel, Q3 unit costs rose 4% due to excessive increases in Italian ATC costs, Spanish airport charges, and the strength of Sterling to the Euro.  Ancillary revenue performed strongly and rose 24% to approx €13 per pax."

The carrier remains well placed to take furth…